Piramal Pharma's GHG Emission Goals Earn SBTi Validation

Piramal Pharma Limited, a global leader in the pharmaceutical sector, has taken a significant step forward on its sustainability journey.

The Science Based Targets initiative (SBTi) has officially validated the company’s near-term greenhouse gas (GHG) emission reduction targets.

The validation is a testament to Piramal Pharma’s ongoing commitment to environmental sustainability and reflects its core purpose of 'Doing Well and Doing Good.'

Bold commitments to reduce GHG emissions

Piramal Pharma’s ambitious goals include a 42% reduction in absolute Scope 1 and 2 GHG emissions by FY2030, using FY2022 as the base year.

Additionally, the company has committed to a 25% reduction in absolute Scope 3 GHG emissions within the same timeframe.

These targets encompass emissions from purchased goods and services, fuel and energy-related activities, upstream transportation, distribution, and the use of sold products.

By securing approval from SBTi, Piramal Pharma has become the third pharmaceutical company in India to receive this validation, demonstrating its leadership in sustainability within the industry.

Global reach and impact

Piramal Pharma Limited operates through a diverse portfolio of products and services, all supported by its 17* global development and manufacturing facilities and an expansive distribution network that spans over 100 countries.

Its operations include:

• Piramal Pharma Solutions (PPS): An integrated contract development and manufacturing organisation.
• Piramal Critical Care (PCC): A business specialising in complex hospital generics.
• India Consumer Healthcare: Focused on over-the-counter consumer and wellness products.

Additionally, PPL is associated with Abbvie Therapeutics India Private Limited, a joint venture with Abbvie that leads in the ophthalmology therapy space in India.

The company also has a strategic minority investment in Yapan Bio Private Limited, a player in the biologics, bio-therapeutics, and vaccine segments.

With backing from a 20% strategic growth investment by The Carlyle Group, secured in 2020, Piramal Pharma continues to grow its global footprint while pursuing sustainability.

Reflecting on this milestone, Nandini Piramal, Chairperson of Piramal Pharma Limited, stated:

"Sustainability is at the heart of our business strategy, and the approval from SBTi reinforces our ongoing commitment to reducing our GHG emissions and aligning with global climate action goals. It is a critical step in our broader sustainability roadmap, and we are committed to doing our part in driving meaningful environmental change across the pharmaceutical industry."

She further emphasised that while Piramal Pharma has made significant strides in this area, the journey is far from over. "To further reinforce our commitment, we are also in the process of developing a comprehensive Carbon Reduction Plan, which will be unveiled soon. While we have come a long way, in many respects, our sustainability journey is just beginning."

Science Based Targets Initiative (SBTi) – A global standard

The SBTi is a collaboration between the Carbon Disclosure Project (CDP), United Nations Global Compact (UNGC), World Resources Institute (WRI), and World Wide Fund (WWF).

It provides businesses with a clearly defined pathway to reduce their greenhouse gas emissions, aligning with the Paris Agreement’s goal of limiting global warming to well below 1.5°C above pre-industrial levels.

By setting science-based targets, companies like Piramal Pharma ensure their growth strategies are not only future-proof but contribute to a more sustainable and resilient world.

Driving change in the pharmaceutical industry

Piramal Pharma’s validation from SBTi is more than just a recognition; it’s a signal to the entire pharmaceutical industry that environmental responsibility can go hand-in-hand with business success. 

With a comprehensive Carbon Reduction Plan in the works and a steadfast focus on making a global environmental impact, Piramal Pharma aims to influence the future of sustainable practices within the pharmaceutical sector.

As the industry continues to evolve, it’s clear that companies like Piramal Pharma are driving meaningful change for a better tomorrow.

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